Crypto withdrawals using ATMs reaches a new all time high
This week there has been news popping up about crypto ATMs both in Spain and Brazil. One would even think it is some sort of competition where they are trying to outdo their competitors.
Brazil surges ahead on the South American flank
Tether, with the help of Smartpay, will make their $USDT available in more than 24,000 ATMs across over 1,000 cities in Brazil. This is done thanks to Smartpays innovation that allows the ATM company Tecban.
You still will need to be a customer of Smartpay in order to access this service. But when you are you will be able to send, receive and even trade $USDT through the ATMs. Smartpay also earlier had $USDT integrated with the PIX payment system. Meaning you already would be able to pay using $USDT anywhere where the PIX system was an option.
And this is a great step in the direction of crypto adoption. And if you have been following that trend then you know that it is in fact countries in Asia and South America that is at the forefront of crypto adoption. Or having the old financial system under siege if you will.
Spain did not take this lying down however and mobilized its own ATM force
Spain did not want to become another victim in the ATM war so it mobilized what forces they have. And they have now passed El Salvadore sitting in third place with regards to the number of crypto ATMs in the world. Now able to muster a total of 215 crypto ATMs. Passing El Salvador's number by 3.
And you might be thinking that 24,000 is a much much bigger number than 215. And you would be very correct in that. good for you. And if you did not immediately see that, I recommend some math night classes.
But it is important to note that the ATMs in Spain are crypto-specific ATMs. While the ATMs in Brazil are "normal" ATMs that will have a crypto feature installed or made available in them. So a bit like apples and pumpkins, or whatever two different things you would like to compare.
This is probably what most politicians or bank people envision when they hear crypto ATM, a dark back alley where you can buy anyone and anything for your ill-gotten crypto gains. Personally, I just think it is a great picture =)
This also makes Spain the country in Europe that has the highest number of crypto ATMs. They are followed by Switzerland with a measly 144 crypto ATMs.
But of course, this pales in comparison to the two countries in first and second place. Canada comes in second place with a whopping 2,545 crypto ATMs. But even they are dwarfed by the US and A in the first spot with a massive 33,745 crypto ATMs.
If you want to look at the ATM data for crypto ATMs there is a link down below.
While I think both of these news stories are great in and of themselves. The Brazil one clearly takes the cake in this case. Personally, I do not really see the appeal or need for a crypto-specific ATM, not when you have the option to have it integrated into the normal ATMs like they are doing in Brazil.
But mind you, this might probably come as a shock to many of you. We in Sweden are a bit behind the curve when it comes to ATMs. While I know they are used for a lot of things in other countries. In Sweden, you literally can only make cash withdrawals. No transactions, no paying bills. Only cash withdrawals.
So I might miss some of the finer details that could make a crypto-specific ATM appealing. And if I am please share why you think a crypto-specific ATM is better than a multi-currency one. The comment section is as always open to you. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
Picture provided by: https://unsplash.com/
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